Folketrygdfondet Makes New $1.80 Million Investment in Torm Plc $TRMD

Folketrygdfondet bought a new position in Torm Plc (NASDAQ:TRMD) in the 3rd quarter, Holdings Channel.com reports. The firm bought 87,099 shares of the company’s stock, valued at approximately $1,796,000. Torm comprises 0.0% of Folketrygdfondet’s portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in TRMD. Tower Research Capital LLC TRC purchased a new position in Torm during the second quarter worth about $46,000. Weaver Consulting Group purchased a new position in shares of Torm during the 2nd quarter worth approximately $167,000. Kovack Advisors Inc. acquired a new stake in shares of Torm in the 2nd quarter valued at approximately $174,000. Invesco Ltd. purchased a new stake in shares of Torm in the second quarter valued at approximately $190,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Torm by 39.9% in the first quarter. NewEdge Advisors LLC now owns 16,740 shares of the company’s stock valued at $276,000 after buying an additional 4,776 shares in the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.

Torm Stock Down 0.9%

TRMD opened at $24.30 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 8.93 and a beta of 0.04. Torm Plc has a one year low of $13.60 and a one year high of $24.95. The business’s fifty day moving average is $21.28 and its two-hundred day moving average is $21.04.

Torm (NASDAQ:TRMD) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.17. Torm had a return on equity of 13.03% and a net margin of 21.37%.The business had revenue of $342.60 million during the quarter, compared to analysts’ expectations of $258.49 million. Analysts anticipate that Torm Plc will post 6.27 EPS for the current fiscal year.

Torm Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 20th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, November 20th. This is an increase from Torm’s previous quarterly dividend of $0.40. This represents a $2.48 dividend on an annualized basis and a yield of 10.2%. Torm’s dividend payout ratio (DPR) is presently 66.54%.

Wall Street Analyst Weigh In

TRMD has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Torm in a report on Wednesday, October 8th. Fearnley Fonds upgraded shares of Torm from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Torm currently has an average rating of “Hold” and a consensus price target of $23.00.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.